Hackernoon logoWhat is DYP.finance? The Defi Project That Grows Silently by@CryptoAdventure

What is DYP.finance? The Defi Project That Grows Silently

Crypto Adventure Hacker Noon profile picture

@CryptoAdventureCrypto Adventure

The best spot for an intriguing adventure to everything crypto.

DYP was launched to provide Defi enthusiasts with various services for earning passive income. In just a few months, it has garnered vast support from thousands of users. DYP has had a profitable trend for its investors and, the DYP token has excellent prospects

Launched in the third quarter of 2020, DYP has seen impeccable growth in the past few months. As such, many crypto enthusiasts consider it a DeFi gem to watch in 2021.

What is Defi Yield Protocol?

The Defi space has noticed great changes in just the past about 1 year, attracting billions of investment. For instance, the TVL at the start of 2020 was merely $700k but towards the end, it was over $15 billion.

However, as Defi grows, so are its risks. In September 2020, for instance, SushiSwap faced severe market manipulation issues that cripled the market for some time.

The issues clouding Defi hinder further growth. However, a new platform DYP here to redefine Defi.

What is DYP? 

DYP is a smart-contract-based platform designed with utmost simplicity in yield farming, staking, and Ethereum mining. Platforms users freely provide liquidity and earn Ethereum, while their investments remain safe from volatility effects. 

It has multiple staking and yield farming pools to help investors have alternative investment options. Although still new, DYP targets to be the best in Defi platforms.

The protocol has been gaining traction from thousands of users recently. Its accelerated growth is seen on the total value locked in the platform in less than six months.

Their TVL stands at over $53 million currently

Staking and yield farming in the platform earned users some of the best rewards in the crypto pace.

For instance, as of 13th of March, the platform had distributed more than 5,781 ETH, whose USD valuation is roughly 11 million. On average, DYP distributes 100 ETH daily ($180k). 

Since this platform is full of decentralized finance services, it will continue to attract users and generate even more rewards as it moves further. 


Liquidity from Uniswap increased 10 times from investors in a short period.

The convenience of the platform is also an attractive feature. DYP has different staking options with rewards ranging from 30k DYP to 100k DYP per month.

Yield farming has different options ranging from a lockup period of 30 days to 120 days. Giving investors multiple pools and lockup periods attracts different classes of investors.

How Defi Yield Protocol (DYP) Helps Defi Community?

DYP is on a mission to disrupt the Defi world and help the Decentralized finance community in their investment needs.

Recently, there have been many Defi changes, affecting investors with little investment knowledge. Beginner investors make serious investment mistakes when joining other Defi platforms since most of them have no research skills. Some end up investing in non-performing pools. 

In an initiative to help the Defi community, DYP introduces DYP tools with unique features that help in investment decision-making. DYP tools include a pool explorer, pair explorer, and Bigswap explorer. 

Some of the attributes and features introduced for the community include; 

  • Full decentralized with zero sponsored projects
  • Trust score 
  • Provision of comprehensive liquidity data
  • DYP locker

Apart from providing the tools feature, the platform helps investors on ways to DYOR before investing in any crypto projects.

What is the DYP Token?

Defi yield protocol has its native token dubbed DYP token to help in the platform's activities. The token can be used for governance purposes, allowing token holders to vote on various issues. Among the things to voe about include; 

  • Pool addition
  • Token burning
  • Strategic partnerships
  • Governance initiatives

DYP will be used to pay pool rewards. Currently, the token is trading at around $3.61, according to coinmarketcap

Which are the most strong points which make DYP Finance different from other projects?

Of course, there are multiple platforms offering yield farming, staking, and swapping services akin to DYP. Some of the platforms have been in the crypto space for longer. Moreover, some of them have offered services to thousands or millions of clients. 

For DYP to be successful, it should implant features that will make it thrive above its peers. Among the features include;

Top security owing to the security audits

The DYP platform is audited by three companies including, Blockchain Concilium, Certik Foundation, and PeckShield. Among the things that the audits focus on include;

  • Contract security audits
  • Staking governance security audits
  • Token lock vesting contracts
  • All subprojects of the platform, audited by Certik foundation
  • Transparency

After auditing the smart contracts and the project entirely, DYP posts the audit reports on their website for all the investors to see. Posting the audit reports shows that the platform wants to foster complete transparency. 

Moreover, on their homepage, that platform has live progress of the TVL. Being transparent about their TVL helps investors understand the network's financial position and ultimately trust the platform.  

The initial Liquidity added by the team on #Uniswap is locked for 1 year with UniCrypt.

Low-Risk Ecosystem

DYP also works at hedging against risks that trouble the Defi world, thus encouraging investments. For instance, market manipulation is a significant issue in the Defi ecosystem. Investors, especially whales, gain largely at the expense of small investors. 

However, DYP is redefining the Defi world by hedging against manipulation risk using the anti-manipulation feature. This feature works by converting the DYP rewards from staking into ETH every 24 hours. DYP, therefore, pays staking rewards in ETH.

Additionally, whenever the DYP price changes by over -2.5%, the platform automatically converts the maximum DYP amount possible into ETH but remains careful not to affect the price during the conversion. Any remaining unconverted DYP settles rewards in the next seven days. Any remainder after the 7 days will either be burnt or redistributed. DYP token holders decide on whether or redistribute the assets. 

Is DYP Finance a Hidden gem with potential?

Between June 2nd and 3rd, 2021, there will be a Global Defi Investment Summit in Dubai. Participants in the summit will be crypto and Defi industry experts as they discuss the way forward in Defi. Moreover, Defi startups and other platforms will be a point of interest for the summit. 

The DYP platform is one of the major sponsors of the summit. DYP CEO Michael Nikolas will be one of the speakers and panelists. Participation of the DYP CEO and the platform sponsoring the event proves the authenticity and prospects of the DYP platform. 

Moreover, DYP developers are still busy working to introduce further features in the platform including;

The DYP Earn Vault

  • Support for #ETH, WBTC, USDC, USDT, DAI
  • Compound Integration
  • 5 different lockup durations
  • Fixed APY for each pool
  • Uniswap Integration to periodically auto-buy DYP using above 25% fees and burn
  • Additional Claim button for compound rewards
  • Ethereum Mining Pool

Binance Smart Chain and PancakeSwap

  • Providing the DYP-BSC bridge to allow users to swap DYP across ETH and BSC networks
  • Staking Smart Contracts with 3 pools DYP/WBNB, DYP/ETH and DYP/BUSD on PanCakeSwap
  • Governance Smart Contract on BSC
  • Rewards paid in WBNB/ETH/DYP

Looking at the strides DYP has already made in the past few months, shows that DYP has a great future. By the end of 2021, the platform will have a large TVL and more customers. Investors should try out DYP to get the best manipulation-free network. 

Another stronger point is that DYP is fully backed by an Ethereum Mining Farm.


DisclaimerThe views and opinions expressed in this article are those of the authors and do not necessarily reflect Crypto Adventure’s position. The analysis performed within this article is only for educational and informational purposes. The author of this post may or may not own DYP Tokens.


Join Hacker Noon

Create your free account to unlock your custom reading experience.